Traders Sell Shares of Wells Fargo & Company (WFC) on Strength on Insider Selling
Traders sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading on Wednesday following insider selling activity. $163.72 million flowed into the stock on the tick-up and $269.02 million flowed out of the stock on the tick-down, for a money net flow of $105.30 million out of the stock. Of all stocks tracked, Wells Fargo & Company had the 10th highest net out-flow for the day. Wells Fargo & Company traded up $0.02 for the day and closed at $58.57Specifically, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on WFC. Vetr downgraded shares of Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 price target on the stock. in a research note on Monday, October 2nd. Instinet reiterated a “buy” rating and issued a $65.00 price objective (up previously from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Nomura raised their price objective on shares of Wells Fargo & Company from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Vertical Group began coverage on shares of Wells Fargo & Company in a report on Friday, October 6th. They issued a “sell” rating for the company. Finally, UBS set a $57.00 price objective on shares of Wells Fargo & Company and gave the company a “neutral” rating in a report on Friday, October 6th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $57.25.
The firm has a market cap of $289,120.00, a PE ratio of 13.86, a P/E/G ratio of 1.38 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.
Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. sell-side analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is currently 40.31%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $1,095,000. Brick & Kyle Associates boosted its holdings in Wells Fargo & Company by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth $104,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Wells Fargo & Company by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Finally, Delphi Private Advisors LLC boosted its holdings in Wells Fargo & Company by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.
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About Wells Fargo & Company
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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